Report Projects Rapid US Crude Growth

Domestic crude oil and condensate production will continue to grow rapidly through the end of this decade, according to a just-released Tudor, Pickering, Holt & Co. study.The report projected U.S. crude production will grow by 4.8 million barrels per day (MMbbl/d) from 2013 through 2020. That would represent more than a 50% increase from the mid-2014 number. The U.S. Energy Information Administration’s current production estimate stands at 8.4 MMbbl/d for May, its latest figure.The report projected 81% of the growth will come from three plays--the Permian, Bakken and Eagle Ford--then...